In a period where visibility is particularly reduced, this virtual Investor Day will provide insight into how the Group adapted to the crisis and some of the most significant trends expected as we come out of the pandemic.
- Hosted by Denis Machuel, CEO and his management team, Sodexo will highlight and reaffirm the resilience and pertinence of its business model today and in the future, the progress made in the last two years and how, in a more complex operating environment, the Group is well positioned to leverage future opportunities.
- To remain agile and protect profitability going forward, Sodexo is implementing its Group Effectiveness and Transformation program (GET). This program aims to further adjust on-site labor costs as government employment measures progressively fall away and also to sustainably reduce its SG&A through the simplification of structures. The program started in the second half of Fiscal 2020 and will be completed by the end of Fiscal 2021.
- The total cost is estimated at 350 million euro, of which 158 million euro was accounted for in Fiscal 2020. This program will achieve cumulated annual savings of 350 million euro by Fiscal 2022, of which half in recurrent SG&A reduction, and half in on-site cost avoidance.
- For the future, Sodexo is confident in its capacity to adapt to the new environment and in particular to the Work From Home trend. The estimated impact on Corporate Services total revenues is limited to less than 10% in the mid-term.
- Sodexo is well positioned to leverage new opportunities through a combination of:
- More outsourcing.
- New food offers including even more sustainable food with new operating and commercial models and the complementarity of the Benefits & Rewards services, all powered by augmented digitization and guided by consumer insights.
- More Facilities Management services by proposing agile workspace management solutions, and additional integration of services supported by new technologies for enhanced efficiency.